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The world of imaginary 'money' - aka 'crypto' - gets fried

Offering a droll 29min. vid here, mainly for entertainment. Full disclosure:

*I have never fully understood - by intellect - what the crypto thing is all about; but -

*I have grasped - by intuition - that it’s something to steer absolutely clear of (being essentially all imaginary, substanceless stuff of absolute-zero inherent value), whilst we watch and wait.

I don’t expect the crypto thing just to vanish entirely now; some tulips will still be bandied about. But I do know - by both intellect and intuition - that crypto has no real substance, in the way that the actual, physical things that people really need for their lives have substance, things such as are made and provided by my working-class neighbours, like food, fencing, car-maintenance, postal services, etc., etc. By contrast, crypto is a game played by ridiculously over-inflated Pampered Twenty Percenter surplus plankton, like Fried, who give nothing, zero, nada useful to the world. (Except perhaps a naughty schadenfreude giggle for we onlookers when they crash, like now…?)

My instinct remains: treat all things crypto like a turd: don’t touch it; flush it ASAP (unless you have the good sense to use a composting loo, like mine; in which case, rather than flush it with a gallon or so of expensively-purified drinking water, you just sprinkle a small scoop of forest soil on it, to start the smell-suppression and composting process, which is then completed in my outdoor composting bins, when the loo bucket gets emptied; just thought you might like to know that :innocent: )

PS: grovelling apologies for the simply awful pun in the headline; I’m too weak, in my schaden-giggling state, to resist it:

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What anyone who has followed the story behind FTX should be able to tell you is this.

First, one doesn’t become a billionaire by working hard and/or smart. One gets there with the funds of the CIA, DARPA, Blackrock, Mossad or any of the other global criminal organisations making it happen and making sure their agenda is covered

Next, the video says that he lost his billions. Did he ****. He’s still got his 30 million mansion on the Bahamas, and for anyone who thinks he hasn’t got a good few mill stashed in a suitable tax haven, well I’ve got this bridge over the Thames for sale.

Finally, as you rightly say @RhisiartGwilym, crypro is witout real value. In reality it is no different in that respect to fiat currency. One can’t eat it, plant it, or use it to build a house (unless of course your name is Sam).

Finally, for those stupid enough to invest in him, if they didn’t understand the agenda behind FTX, well they’ll get no sympathy from me.

Apologies for the multiple edits. My fingers are too big and clumsy to type on a telephone


I’d agree completely about crypto’s worth compared to fiat. It’s about trust.

But bitcoin? Ignoring it’s utterly horrendous energy usage, it’s got the old school rattled, that’s for sure. A speculation is this was engineered to bring in control. CBDC’s are coming (for sure) and they don’t want competition.

There can only be 21 million coins. The ledger is fully accessable. There is no way to fiddle in the manner currently done with fiat.

Hi folks, I have to declare an interest - I have never invested in any tradeable security or derivative, I particularly didn’t fall for the Thatcher easy money privatisation offers - buying your own assets is just another Tory con!
Originally I believe crypto was to side step banking and currency institutions and avoid the fallout from bank failures. It became, like most things ( e.g. residential houses, works of art etc. ) a “security” which could be traded and backed into a derivative ( options, future contracts, swaps etc) like any other security. And like all these traded securities the risk ended up with whoever was holding the parcel when the music stopped! But on top of normal investment risks associated with derivative contracts and straight securities there is the risk of fraud and corruption as well as political intervention - FTX has I think exemplified all of these traits. I get the feeling that this rapid tectonic shift was a spook/wall St. designed plan to destroy the entire crypto market to “justify” the introduction of CBDC’s - and it seems to be working - India and the US have just set up their own pilot schemes for CBDCs and according to this quite a few other nations are going to do the same :

  • of course the CBDC will ultimately operate alongside a national ID system to introduce social and political credit ratings which will be just another form of legal theft from the public.

It seems to me the time between invention and involution has rapidly speeded up for everything man-devised!



Yes, I think that’s the key thing. FTX was a honey trap and will sucker people into distrusting cryptocurrency that isn’t State backed.

All currency is a signifier, no more or less.